New York’s Cannabis Control Board expanded cannabis regulators’ authority to issue provisional licenses and approved 101 new adult-use cannabis licenses during a Thursday morning meeting.
CCB members unanimously approved a measure that gives the State Office of Cannabis Management authority to issue provisional licenses to retail applicants. Provisional licensees have up to one year to secure a location and receive a final license.
Prior to Thursday’s meeting, the CCB had to vote to approve provisional licenses. Now, OCM staffers can grant provisional licenses, but the CCB still must vote on final license approvals.
Businesses approved on Thursday include 35 retailers, 22 microbusinesses, 25 cultivators, 11 distributors and eight processors, bringing the total number of fully licensed cannabis businesses to 324. New York now has more than 100 dispensaries operating statewide.
OCM Policy Director John Kagia said cannabis sales hit $32 million in March which is the highest revenue figure since legalization. He added that the first three months of 2024 was the highest-selling quarter yet for legal New York cannabis with $84 million in sales.
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